U.S. Markets Open Higher, Intel Buys Altera for $17 Billion

U.S. markets start the first day of June in the green and Intel (INTC) says it will acquire Altera (ALTR) for $16.7 billion. The deal comes after an earlier round of talks between the two companies ended in April. The transaction is the latest in ongoing consolidation in the industry that's aimed at boosting revenue and profit. U.S. consumer spending was unexpectedly flat in April as households cut back on purchases and continued to boost saving. Officials close to creditors negotiating a funding-for-reform package with Greece denied a market rumour that a deal could be announced on Monday afternoon.